U.S. established an agreement to supply Europe with liquid natural gas amid Ukrainian crisis
Lake Charles, LA (KPLC) - The U.S. established an agreement to supply Europe with liquid natural gas, a move by the Biden Administration to ease Europe’s dependency on Russia.
The announcement came last week to increase Europe’s supply following Russia’s invasion of Ukraine.
”The United States, together with our international partners, we’re going to work to ensure an additional 15 - 1, 5 - 15 billion cubic meters of liquified natural gas. LNG, for Europe this year,” President Biden said.
Biden’s announcement comes as Russia’s aggression continues against Ukraine. This LNG agreement is going to offset natural gas supply from Russia to the European Union.
“It’s important to note that the agreement said that they’re going to strive doing that with international partners. So, that LNG isn’t necessarily going to come out of the United States,” McNeese LNG Center of Excellence executive director Jason French said.
However, French explains the door is open for production growth here in the U.S.
“The European Union agreed to 50 billion cubic meters of sustained demand between now and 2030,” French said. “And that will create an opportunity for greater investment in the U.S. LNG industry.”
French said a local impact is likely in Southwest Louisiana, as it already houses three operating LNG facilities.
“You have Common Wealth LNG and other proposed projects in the Gulf Coast that now, with the support of the administration, with an additional growing market in Europe, you hopefully will see greater construction of those plants. More jobs and more investment in Southwest Louisiana,” French said.
One new project that is already moving along is the Tellurian Driftwood LNG site near Carlyss. Just this week it began phase one of construction.
Copyright 2022 KPLC. All rights reserved.